Biogen shares are trading lower on continued downward momentum after the company on Wednesday reported Q3 financial results and issued weak FY23 guidance. Also, Wedbush maintained a Neutral rating on the stock and lowered its price target from $266 to $239.
Portfolio Pulse from Benzinga Newsdesk
Biogen shares are trading lower following the company's Q3 financial results and weak FY23 guidance. Wedbush has maintained a Neutral rating on the stock and lowered its price target from $266 to $239.
November 09, 2023 | 3:47 pm
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NEGATIVE IMPACT
Biogen's stock is trading lower due to disappointing Q3 results and weak FY23 guidance. Wedbush has also lowered its price target for the stock.
Biogen's weak Q3 results and FY23 guidance are likely to negatively impact investor sentiment, leading to a decrease in the stock price. Additionally, Wedbush's lowered price target could further discourage investment in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100